Sea Is Making a Big Move in E-Commerce -- the Same Move That Catalyzed Growth for MercadoLibre
For those who have been holding shares of Latin American e-commerce and fintech business (NASDAQ: MELI) over the last five years: Congratulations, it's been an enriching ride. The stock is up roughly 200% during that time as its business has boomed.
MercadoLibre stock is up because the business has grown substantially. In the first quarter of 2019, the company's e-commerce platform had 18.8 million active buyers and merchandise volume of $3 billion. Five years later in the first quarter of 2024, it had 53 million active buyers and merchandise volume of over $11 billion.
There have been multiple catalysts for MercadoLibre in recent years, but one can't overlook how much more compelling the e-commerce platform is today compared to years past.
Source Fool.com
Mercadolibre Inc Stock
The stock is an absolute favorite of our community with 23 Buy predictions and no Sell predictions.
With a target price of 1769 € there is a slightly positive potential of 19.12% for Mercadolibre Inc compared to the current price of 1485.0 €.
